Wow. KPMG fired head of audit practice. PCAOB leaked inspection info.

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iirc, 6 people got fired? that means they took that information from the "lone wolf PCAOB employee" and used it to their advantage... fundamentally unethical, and seriously calls into question the integrity of the firm to the highest level. and 9 million is a drop in the bucket, a slap on the wrist. think about that tomorrow when you go to work at your "big 4" firm

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also, agree with pwc3. Oscar blunder was for sure embarrassing, but does it have anything to do with the firm's actual business/purpose? one drunk partner's in-the-moment mistake doesn't affect the firm's reputation with audit committees. can you say the same about this fiasco?

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EY 5 wasn't EY fined $9.3m? Also didn't PWC make a public relations blunder in front of one billion people? What exactly did KPMG do? Some disgruntled employee at the PCAOB passed along advance notice of inspections? I believe that's more on the PCAOB than KPMG.

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Lmao. Some serious brainwashing is going on at KPMG apparently.

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KPMG7 Your company fucked up real bad compared to an envelope issue at a dumb award show and an independence fine. Stop trying to defend it - it's just your employer.

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KPMG is just KPMGing

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Now news internally yet.

Details?

Internal info will be released on KPMG Today tomorrow.

Press release is drafted.

This is pretty bad

@SA1 yes but they definitely will take an hour or two to craft it

Meanwhile PWC getting crap for calling out the wrong name at an awards ceremony lol

I know for a fact that one of the other three firms had inside information from the PCAOB regarding inspections.

EY 3 yes, I'm sure.

EY 4 yes I am. 😎

This is a 24-48 hour news cycle. While your little Oscar blunder will be discussed each and every year until the end of time. "Remember that year when PWC f'd the best picture category?"

EY 5 your fine related to those acts calls into question independence!!! Is that not the cornerstone of our profession?!? EY had to resign from those clients. Please tell me what the punishment is going to be here for a disgruntled PCAOB employee?

every firm toes the line of independence at most clients. it's the business model, selling further services. to those you have established relationships with, like your audit clients. one partner thought we were pre-2001 when this behavior and 10x worse were commonplace. big deal.

KPMG7 Then your critical thinking skills are lacking.

EY 3 back up your point. EY 7 such an intelligent comeback. You're an idiot. How's Vision 2020 working for the both of you?

Well, maybe it SHOULD be a big deal....but as far as I can tell, the only people still sweating it are the people on fishbowl. We screwed up. What of it?

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